Wittenberg Investment Management Inc. Trims Position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)

Wittenberg Investment Management Inc. trimmed its position in Atlanta Braves Holdings, Inc. (NASDAQ:BATRK - Free Report) by 29.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,577 shares of the financial services provider's stock after selling 10,884 shares during the period. Wittenberg Investment Management Inc. owned 0.05% of Atlanta Braves worth $1,017,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Rangeley Capital LLC bought a new stake in Atlanta Braves during the fourth quarter valued at $383,000. Wellington Management Group LLP raised its holdings in shares of Atlanta Braves by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 654,762 shares of the financial services provider's stock valued at $25,051,000 after acquiring an additional 19,718 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Atlanta Braves by 49.5% during the 4th quarter. JPMorgan Chase & Co. now owns 250,042 shares of the financial services provider's stock valued at $9,567,000 after acquiring an additional 82,769 shares during the last quarter. Aire Advisors LLC purchased a new position in shares of Atlanta Braves during the fourth quarter worth about $257,000. Finally, LPL Financial LLC raised its stake in Atlanta Braves by 4.1% in the fourth quarter. LPL Financial LLC now owns 7,580 shares of the financial services provider's stock valued at $290,000 after purchasing an additional 302 shares in the last quarter. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

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Atlanta Braves Price Performance

NASDAQ BATRK traded down $0.10 during trading hours on Wednesday, reaching $36.02. 132,260 shares of the stock traded hands, compared to its average volume of 265,636. The stock has a 50 day simple moving average of $39.44 and a two-hundred day simple moving average of $39.37. Atlanta Braves Holdings, Inc. has a 1 year low of $35.31 and a 1 year high of $44.43. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -49.51 and a beta of 0.56.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last released its earnings results on Wednesday, February 26th. The financial services provider reported ($0.31) earnings per share for the quarter, topping analysts' consensus estimates of ($0.69) by $0.38. The firm had revenue of $52.12 million during the quarter, compared to the consensus estimate of $48.20 million. On average, sell-side analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Atlanta Braves to a "sell" rating in a research note on Friday, February 28th.

Insider Activity

In related news, major shareholder John C. Malone bought 2,760 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $41.99 per share, for a total transaction of $115,892.40. Following the acquisition, the insider now directly owns 214,118 shares of the company's stock, valued at $8,990,814.82. The trade was a 1.31 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders acquired 47,692 shares of company stock valued at $1,980,287. Corporate insiders own 11.43% of the company's stock.

Atlanta Braves Company Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves Major league baseball club. It also operates mixed-use development project, including retail, office, hotel, and entertainment projects. The company was incorporated in 2022 and is based in Englewood, Colorado.